Reported about 23 hours ago
Billionaire Gautam Adani's conglomerate successfully garnered over $1.95 billion in orders for a dollar bond sale after a prior postponement due to investor hesitations on pricing. The clean-energy division, Adani Green Energy Ltd., is offering a 20-year $600 million bond with a yield of 7.45%, a slight adjustment from earlier estimates. This issuance aims to refinance foreign-currency loans amidst a backdrop of improving market conditions following political developments. The company had previously aimed for a 7% yield but delayed the offering, attempting to rebuild investor confidence after significant stock declines earlier this year.
Source: YAHOO